Carrier Global (NYSE:CARR) Stock Rating Upgraded by Northcoast Research

Northcoast Research upgraded shares of Carrier Global (NYSE:CARR) from a neutral rating to a buy rating in a research report report published on Friday morning, Marketbeat Ratings reports. The firm currently has $85.00 target price on the stock.

A number of other analysts also recently issued reports on CARR. Barclays raised their target price on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup reduced their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada increased their price target on Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $81.53.

Carrier Global Price Performance

NYSE:CARR opened at $71.44 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. Carrier Global has a 52 week low of $54.22 and a 52 week high of $83.32. The stock’s 50-day moving average price is $63.72 and its 200-day moving average price is $68.02. The stock has a market capitalization of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. Carrier Global’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. As a group, equities analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Friday, May 2nd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.90 dividend on an annualized basis and a yield of 1.26%. Carrier Global’s dividend payout ratio (DPR) is presently 13.93%.

Institutional Trading of Carrier Global

A number of institutional investors have recently bought and sold shares of CARR. BOK Financial Private Wealth Inc. raised its stake in Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock valued at $26,000 after buying an additional 180 shares during the period. Park Square Financial Group LLC purchased a new position in Carrier Global in the fourth quarter valued at about $28,000. Mattson Financial Services LLC purchased a new position in Carrier Global in the 4th quarter worth approximately $31,000. Finally, Investment Research & Advisory Group Inc. acquired a new position in shares of Carrier Global during the first quarter worth $29,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.